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Apple Cuts Orders for iPhone Parts

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  • Description

    FBN’s Diane Macedo breaks down the stories moving the markets around the world.

  • Duration 4:59
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This is this Imus in the morning.

-- on the fox.

Good morning everyone watching shares of apple this morning and -- down more than.

3% in the pre market after the company reportedly cut orders for iPhone 5 parts.

Due to weaker than expected demand sources tell the Wall Street Journal Apple's only ordering about half of the screens -- originally planned to for the January to march quarter.

And also reduced orders for other parts the journal says that comes as apple faces more competition from rival Samsung Electronics.

And other companies that make Smartphones that run on Google's Android operating system.

UPS meanwhile is pulling the plug on its six point eight billion dollar takeover bid for TNT express.

That comes after European regulators told a company they plan to block the deal.

In its current form the world's number one package delivery company offered to buy AT&T.

Europe's second largest delivery company in May.

In an effort to compete with Europe's largest delivery company DHL the regulators were concerned.

At a cost too much concentration in the sector.

UPS will pay T and T more than 265.

Million dollar termination fee.

Checking the markets now here in the US futures are fairly flat investors are cautious ahead of a big.

Week for earnings season Dow futures are up just two point CS and fraction of a point the nasdaq's down about nine in Europe stocks got support though from comments by Chicago fed president Charles Evans.

The said the US economy will grow 2.5 percent this year and 3.5 percent next year London's up nine point Paris is up almost eighteen.

And Frankfurt's up about 46 Lessig a closer look at what else is moving those market -- -- understand how to market analyst.

At city index in London Fiona the head of the International Monetary Fund.

Has declared that the region's economy will begin to recover.

In two point thirteen and says even -- -- -- better results than planned now.

This echoes upbeat views from ECB president Mario Draghi is well also is the worst behind -- That's always -- to think remains ice lonely -- think his -- to bank put off the top -- that we had lasted there was another crying on Gnostic.

And is still going to be -- not to do invasive busting -- it's -- -- -- even as he said with Greece are expecting.

Better results -- and some of them perhaps the previous -- so.

There probably see still some consents and -- Citi seems to be edited a bit but basically unstable.

We audits and for the right results -- noted for them to progress with reforms.

But -- you know we are expecting to attachment that seem to be positive -- -- but also clay but they.

And one of the things that Christine Lagarde did mention specifically there is that Greece.

Pass to get better at collecting taxes doesn't -- great track record there is there any reason for optimism looking forward in the next year to -- -- a better.

Or at least better fast enough.

The ten weakened high prime namely say they really have being pulled up pay eight you know had -- his -- -- -- being that being torn on this.

They they really have been embarrassed -- sunshine not been funds of the community that they do -- today's summit saying and that we've sat in mind warm wood -- said.

That they should be able to do something more positive about is getting -- -- And in the site -- have been highlighted so strong they.

We would expect results becoming up in the back of this and also with the receipt with -- with -- -- that they've escaped from the -- -- -- why today.

Then they -- -- -- and it's to get better connecting that taxes.

All right helping the helpless David -- is up beyond that thanks so much for taking a time we appreciate it is always.

Oh and earnings season rolled on this week with some big names reporting quarterly results including several major banks Goldman Sachs and JPMorgan Chase will kick things off with their results on Wednesday Thursday.

-- be a busy one with Bank of America Citigroup and American Express -- reporting.

And Morgan Stanley will close out the week with its results on Friday also will also get.

It's a big Dow components in Intel releases its results Thursday and General Electric comes our way on Friday we and investors will be watching all of those very closely.

Swatch group is buying Harry Winston's luxury jewelry division for 750 million dollars.

Swatch which owns brands like Omega is already the biggest watch maker by sales and this deal.

We'll help but expand into high and bracelets rings and necklaces consolidation has picked up -- -- luxury goods industry as companies expand their portfolios amid strong.

Asian demand for pricey items still this deal.

Must be approved by regulators.

Let's take a look at commodities oil and gold.

I -- the -- this morning miles up about sixty cents trader at 94 dollars a barrel gold up.

Almost eight dollars at 1668.

-- coming at this hour Imus is -- will be Charles Payne of fox business and now here's the IMM live.

Ready to give you the -- to --

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